Philippines extends until 2024 tariff reduction of mechanically separated chicken meat

Signed on January 13th, but only published in the Official Gazette last Thursday, the 19th, the OE extended the five percent tariff on chicken and turkey MSM until the end of 2024. In 2025 the tariffs will return to 30% within quota and 40% out of quota. According to the message that accompanied the initiative, it is necessary to maintain reduced tariffs on chicken and turkey MSM "to guarantee the continuous supply of essential food products at affordable prices, diversify the country's sources of supply and help companies recover and sustain its operations. The prolonged impacts of the Covid-19 pandemic and other factors that affected the supply of that commodity are cited, as well as the high inflation caused by restrictions on domestic supply, shortages in global supply and rising commodity prices around the world. Maintaining the five percent tariff rate at CMS was endorsed by the board of the National Authority for Economic Development (NEDA) on December 28, 2022. A new ...